Our Annual Steel Price Forecast
2022 is here! See how steel is backing a major comeback and how prices could potentially skyrocket upward toward the second half of the year!
Many things have been in short commodity since the pandemic. One of those things that drastically effects the price of steel are the microchips used in vehicles. As you might expect, a large portion of all steel manufactured goes into the automotive industry. However, many auto companies have either lowered their steel spending or stopped it altogether because of this microchip shortage.
Less cars being manufactured means less demand for steel, which in turn, has made steel cheaper. Although we have seen this of late, many experts are predicting a boom in steel price due to the expectation that these microchips will be making a come back in the second half of 2022. Once this happens, steel will once again be poured back into the auto industry raising the rarity and price of it again. Read here for more information.
Many things have been in short commodity since the pandemic. One of those things that drastically effects the price of steel are the microchips used in vehicles. As you might expect, a large portion of all steel manufactured goes into the automotive industry. However, many auto companies have either lowered their steel spending or stopped it altogether because of this microchip shortage.
Less cars being manufactured means less demand for steel, which in turn, has made steel cheaper. Although we have seen this of late, many experts are predicting a boom in steel price due to the expectation that these microchips will be making a come back in the second half of 2022. Once this happens, steel will once again be poured back into the auto industry raising the rarity and price of it again. Read here for more information.
2022 is here! See how steel is backing a major comeback and how prices could potentially skyrocket upward toward the second half of the year!
Our Annual Steel Price Forecast
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